The most important features are:
It is a unsecured loan appropriate for any purpose Like:
– Medical cause
– Purchase of Property or Assets
– Repay old loans
– Gifts…And so on.
It is trouble unfastened. No guarantors or protection /collateral required. Loans to salaried & self-hired. Special offers for Professionals like Doctors, Chartered accountants, Engineers, Architects, Company secretaries, MBA’s and so on. Loans are to be had from Rs. 50, 000/- to Rs. 20 lakh. Repayment alternatives from 12 to 60 months in easy EMI’s. Loans to be had against surrogate profits of any automobile, non-public or home loan.
Minimum documentation & rapid approval. What are the Various forms of private loans available? Personal loans may be broadly divided into income based and non earnings based. Income primarily based loans are given on the basis of earnings in keeping with month/in step with year for salaried and self employed respectively. Non profits based loans also recognize as surrogate loans are given based on compensation music facts of present non-public loans, car loans, home loans and Credit cards from approved banks. Minimum instalments paid/Months on books required is nine-twelve months.
WHAT ARE THE ELIGIBILITY CRITERIAS?
The eligibility criteria for salaried and self employed are:
Applicant should be Indian residents working and residing in Mumbai.
Minimum age required is 21 years and Maximum fifty eight/60 years.
Minimum Work Experience-1 month in cutting-edge business enterprise and three years common.
Minimum Net Take Home – Rs. 20, 000/- in keeping with month.
Residence-both Owned, rented or company furnished.
Telephone/mobile mandatory at residence.
Currently maximum of the banks are presenting unsecured non-public loans only to employees of Private Ltd , Limited and multinational corporations.
Applicant ought to be Indian Citizens Working and living in Mumbai.
Minimum age required is 23/25 years and Maximum 65 years.
Minimum three years revel in in identical business.
Minimum earnings Rs. 2. 50 lakh in line with anum.
Residence/Office -either Owned, rented or organization furnished. Either house or office need to be self owned.
Telephone/mobile mandatory at residence and workplace.
Partnership firms , Private Ltd. Companies and deemed Limited groups are eligible.
HOW IS ELIGIBILITY CALCULATED?
Different banks have extraordinary approaches of calculating 대출 link the eligibility. In the case of Salaried commonly most of the banks would calculate eligibility to be 1/1. 5 times of annual income. Factors which includes present loan liabilities , common bank stability, tune record on current loans , company profile & mortgage tenure also plays a part in determining eligibility.
In the case of Self Employed’s the eligibility could depend upon the turnover, current music record, internet profit, cash credit score /overdraft limit enjoyed, line of enterprise, coins go with the flow, bank declaration, present loan legal responsibility amongst other things. Generally the loan quantity is limited at 1. 25 to 4 times of coins income generated much less present liabilities or a sure percentage of turnover much less existing liabilities.
WHAT IS THE LOAN TENURE?
Loan tenure is the length within which the applicant wants to pay off the mortgage. Loans can be repaid from 1 year to 5 years. The rule of the thumb being longer the tenure higher will be the loan eligibility and vice versa. The age of the applicant together with duration of provider left additionally influences the mortgage tenure.
WHAT ARE SERVICE CHARGES?
Service charges, loan processing fees , financial institution charges are numerous ways of describing the prices which the financial institution expenses for processing and disbursing loans. It is deducted immediately from the mortgage quantity and is typically constrained to two% to 3 % of the loan amount. It is a one time fee.
WHAT ARE THE DOCUMENTS REQUIRED?
– Pan card replica.
– Current residence proof.
– Salary slips for 3 months.
– Bank assertion for 6 months.
– Appointment letter and evidence of work revel in.
– Sanction letters of current/closed loans.
– Pan card reproduction.
– Residence and office address proof(Either house or
– Office ought to be self owned).
– IT Returns – CA licensed copies for 2 years whole set.
– Business continuity/lifestyles evidence three years vintage.
– Business banking 6 months.
– All present loan sanction letters.
– Qualification evidence for specialists.
WHAT IS THE LOAN PROCESS?
One can practice for a non-public loan any time in anticipation of a brief, problem free and unsecured finance for any purpose. The verification method at residence and office is physically accomplished inside 2/three days on submission of all files required. There is a simultaneous credit score check finished to discover the credit history of the applicant within the bank applied as additionally different banks. If all the exams are superb the credit score officer generally has both a telephonic or physical dialogue with the applicant at his office/place of business.
Subject to the discussion being advantageous the applicant has to sign an agreement and additionally quit PDC’c(Post Dated Checks) or authorization for ECS(Electronic Clearing System). The applicant usually receives either a direct credit in his/her account or gets a Draft inside 2/three operating days after executing the settlement. The whole Process may additionally take 5/7 operating days.
WHO CAN APPLY?
Salaried people and Self hired individuals, Partnership firms, Pvt. Ltd. And Deemed Ltd. Agencies can apply.
What are the Income Criterias for Salaried?
A Salaried Individual wishes to have Minimum NTH(Net Take Home Salary) Of Rs. 20000/- pm.
What are the profits criteria for self hired?
Minimum Income of Rs. 2. 5 to Rs. 3 lakh in line with annum is the familiar norm.
What is the minimum and most mortgage amount?
The minimal mortgage quantity for salaried is Rs. 50, 000/- and most Rs. 15 lakhs. For Self hired the minimal mortgage is Rs. 1 lakh and most 20 lakh.
WHAT ARE THE AGE CRITERIAS?
For salaried the minimal age is 21 years and maximum 60 years.
For Self hired’s the Minimum age required is 25 years and maximum sixty five years.
Is a no income Proof mortgage to be had?
Yes, salaried people and self hired’s can practice on the basis of current non-public loan, auto mortgage & home loan tracks on which minimal 9/12 EMI’s have been paid.
WHAT IS THE LOAN TENURE?
The minimum loan tenure is 1 year and maximum five years.
Is securities or guarantors required for a personal loan?
No protection, hypothecation, guarantors or mortgages is required in a non-public Loan.
Can someone staying on lease apply?
Yes, applicants staying both on owned, rented or employer furnished accommodation can practice. Permanent house address proof can be required in case of rented/leased, organisation supplied lodging.
WHAT ARE THE INTEREST CHARGES?
Interest charges relies upon on various factors just like the Loan Amount, Company profile, qualification & Income and so on. It should vary from 16 % to 26% on a monthly decreasing basis.
CAN THE LOAN BE PREPAID?
Yes, the loan may be pay as you go after paying 6 installment.
ARE THERE PREPAYMENT CHARGES?
Generally all banks fee 4% to 5% of the precept extraordinary as prepayment costs.
Apex Finance & Marketing turned into founded in April 2006 by Subhrajeet Talukdar and is the promoter of http://www